● 本报记者 康曦 罗京 云南宁蒗泸沽湖机场，纵横股份自主研发的云龙固定翼无人机正缓缓起飞，开启四川省2025年度川西航 空护林任务；中自科技的机动车尾气催化剂生产线，机械臂高速运转，智能制造的场景在这里落地…… 当政策春风拂过民营经济田野，一幅"创新驱动发展"的生动图景正在神州大地铺展。随着《中华人民共 和国民营经济促进法》正式施行，民营企业正以科技创新为支点，撬动高质量发展的新未来。 精准施策破解发展瓶颈 5月20日，《民营经济促进法》正式施行。《民营经济促进法》明确提出，支持民营经济组织参与国家 重大战略和重大工程。支持民营经济组织在战略性新兴产业、未来产业等领域投资和创业，鼓励开展传 统产业技术改造和转型升级，参与现代化基础设施投资建设。为资信良好的民营经济组织融资提供便利 条件，增强信贷供给、贷款周期与民营经济组织融资需求、资金使用周期的适配性，提升金融服务可获 得性和便利度。 全国工商联副主席、奇安信集团董事长齐向东感慨，《民营经济促进法》的审议通过，就像一场"及时 雨"，让民营经济在中国式现代化征程中扎根更深、生长更活跃。 《民营经济促进法》明确提出，引导民营经济组织根据国家战略需要、行业发展趋 ...

Core Views - The report outlines the continuous supervision work conducted by Shenwan Hongyuan Securities for Zhongzi Technology Co., Ltd. after its listing, emphasizing compliance with relevant regulations and the establishment of a robust supervision system [1][2]. Continuous Supervision Work - Shenwan Hongyuan has established and effectively implemented a continuous supervision system, including a work plan [2]. - The institution has signed a rights and obligations agreement with Zhongzi Technology, which has been filed with the Shanghai Stock Exchange [2]. - Continuous supervision includes regular communication, site inspections, and due diligence to ensure compliance with laws and regulations [2][3]. Compliance and Governance - The institution supervises Zhongzi Technology's compliance with laws, regulations, and commitments made by its management [3][4]. - The company has been urged to establish effective internal control systems and governance structures [3][4]. - Information disclosure practices are closely monitored, ensuring that all documents submitted to regulatory bodies are accurate and complete [4][5]. Financial Performance - For the fiscal year 2024, Zhongzi Technology reported a revenue of CNY 1,564,932,497.13, reflecting a 1.35% increase from the previous year [12]. - The net profit attributable to shareholders was a loss of CNY 26,218,438.81, a significant decline of 161.95% compared to the previous year [12]. - The company’s cash flow from operating activities was negative at CNY -156,880,149.19, indicating financial strain [12]. Research and Development - The company increased its R&D expenditure by 26.13% to CNY 109,693,350.33, representing 7.01% of its total revenue [17]. - During the reporting period, Zhongzi Technology applied for 47 new domestic patents, enhancing its innovation capabilities [17][18]. Market Position and Risks - The environmental catalyst industry is characterized by intense competition, with significant market share held by foreign companies [9]. - The company faces risks related to core competitiveness, operational challenges, and fluctuations in precious metal prices, which are critical for its production [6][8][9]. - The transition to stricter emission standards and the growth of the new energy vehicle market may impact the demand for traditional fuel vehicle catalysts [10][11]. Use of Proceeds - The company raised CNY 1,407,189,683.51 from its IPO, with funds allocated for various projects, including the development of new catalysts and enhancing production capabilities [20][21]. - As of December 31, 2024, the company ensured compliance with regulations regarding the use of raised funds, with no violations reported [20][21].